Bond

Ian C. Burdette, CFA, CMT Joins Academy Securities as Managing Director, Head of Term Rates Trading

Retrieved on: 
Thursday, February 6, 2020
Banking, Professional services, Finance, Financial markets, Finance, Economy, Bond, Security, Fixed income, Investment banking, Structured finance, Financial law, Bond market

Academy Securities, a registered broker-dealer, certified Disabled Veteran Business Enterprise (DVBE), and Minority Business Enterprise (MBE), today announced the addition of Ian Burdette as Managing Director, Head of Term Rates Trading.

Key Points: 
  • Academy Securities, a registered broker-dealer, certified Disabled Veteran Business Enterprise (DVBE), and Minority Business Enterprise (MBE), today announced the addition of Ian Burdette as Managing Director, Head of Term Rates Trading.
  • Mr. Burdette will be a Managing Director of the Term Rates desk focusing on term Agency debt including fixed rate bullets, callable bonds, and structured notes, as well as Treasury trading.
  • Mr. Burdette commented on his joining Academy Securities, I am very excited about the opportunity to work with Academy Securities and their impressive team.
  • Academy Securities is a preeminent disabled veteran owned investment bank with strength in capital markets, public finance, fixed income and equity trading.

Hercules Capital Announces 5-Year Investment Grade Bond Offering Totaling $120.0 Million

Retrieved on: 
Thursday, February 6, 2020
Professional services, Finance, Finance, Economy, Corporate finance, New York Stock Exchange, Bond, Venture capital, Financial economics

The issuance of $70.0 million of the June Notes is expected to occur in June 2020.

Key Points: 
  • The issuance of $70.0 million of the June Notes is expected to occur in June 2020.
  • Since inception (December 2003), Hercules has committed more than $10.0 billion to over 490 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.
  • In addition, Hercules has two retail bond issuances of 5.25% Notes due 2025 (NYSE: HCXZ) and 6.25% Notes due 2033 (NYSE: HCXY).
  • There is no assurance that the offering of the June Notes will close in June 2020 or at all.

KBRA Assigns Preliminary Ratings to Sapphire Aviation Finance II Limited and Sapphire Aviation Finance II LLC

Retrieved on: 
Wednesday, February 5, 2020
Banking, Professional services, Insurance, Finance, Materials, Matter, Kroll Bond Rating Agency, Credit rating agency, KBRA, Bond, Sapphire, Issuer

Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three series of notes (the Notes) issued by Sapphire Aviation Finance II Limited and Sapphire Finance II LLC (together, SAPA 2020-1 or the Issuers).

Key Points: 
  • Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three series of notes (the Notes) issued by Sapphire Aviation Finance II Limited and Sapphire Finance II LLC (together, SAPA 2020-1 or the Issuers).
  • Proceeds from the sale of the Notes will be used to acquire 21 aircraft (the Portfolio) on lease to 19 lessees located in 18 jurisdictions.
  • The composition of the Portfolio consists of 18 narrowbody aircraft (68.3% by value) and three widebody aircraft (31.7% by value).
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .

KBRA Assigns Preliminary Ratings to Velocity Commercial Capital 2020-1

Retrieved on: 
Wednesday, February 5, 2020
Other Professional Services, Professional services, Finance, Finance, Money, Economy, Credit rating agencies, Kroll Bond Rating Agency, Credit risk, Bond market, Bond credit rating, Mortgage loan, Bond

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 19 classes of Velocity Commercial Capital 2020-1 (VCC 2020-1) mortgage-backed certificates.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 19 classes of Velocity Commercial Capital 2020-1 (VCC 2020-1) mortgage-backed certificates.
  • For complete details on the analysis, please see our pre-sale report, Velocity Commercial Capital 2020-1 published at www.kbra.com .
  • The preliminary ratings are based on information known to KBRA at the time of publication.
  • Information received subsequent to this release could result in the assignment of ratings that differ from the preliminary ratings.

TCI Subsidiary, Southern Properties Capital, Receives Bond Rating Increase by Standard & Poor’s Global Rating

Retrieved on: 
Wednesday, February 5, 2020
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Finance, Money, Economy, Credit rating agencies, Credit risk, Bond, Standard & Poor's, Tel Aviv, Transcontinental Realty Investors, Inc., Southern Properties Capital, Victory Abode Apartments

As previously reported, TCI/SPC was the first Dallas based firm to raise capital on the Israeli bond market.

Key Points: 
  • As previously reported, TCI/SPC was the first Dallas based firm to raise capital on the Israeli bond market.
  • View the full release here: https://www.businesswire.com/news/home/20200205005183/en/
    TCI and Southern Properties Capital received notice of the revised rating on February 2,2020.
  • S&P increased the A & B bond series from a BBB+ rating to an A- rating and increased the C series from AAA- to A rating.
  • The company then raised an additional $78 million bond series C on the Tel Aviv Stock Exchange in July 2019.

Unit Corporation Announces Extension of Expiration Date of Exchange Offer

Retrieved on: 
Monday, February 3, 2020
Energy, Utilities, Oil, Gas, Finance, Options, Money, Bond market, Exchange offer, Bond, Expiration, CUSIP, Economy

Unit Corporation (the Company or Unit) announced that it has extended the Expiration Date for its previously announced offer to exchange (the Exchange Offer) any and all of its outstanding 6.625% Senior Subordinated Notes due 2021 (CUSIP No.

Key Points: 
  • Unit Corporation (the Company or Unit) announced that it has extended the Expiration Date for its previously announced offer to exchange (the Exchange Offer) any and all of its outstanding 6.625% Senior Subordinated Notes due 2021 (CUSIP No.
  • We are extending the Expiration Date of the Exchange Offer.
  • Other than the extension of the Expiration Date described herein, the terms and conditions of the Exchange Offer remain as set forth in the Prospectus.
  • Global Bondholder Services Corporation is serving as information and exchange agent for the proposed Exchange Offer and Consent Solicitation.

Ivy High Income Opportunities Fund Announces Monthly Distribution

Retrieved on: 
Monday, February 3, 2020
Banking, Professional services, Finance, Economy, Finance, Money, Financial markets, United States housing bubble, Private equity, Investment, Bond, High-yield debt, Yield, Rate of return, Bond fund

The distribution is expected to be paid from net investment income (regular interest and dividends).

Key Points: 
  • The distribution is expected to be paid from net investment income (regular interest and dividends).
  • Ivy High Income Opportunities Funds investment objective is to seek to provide total return through a combination of a high level of current income and capital appreciation.
  • The Fund seeks to achieve its investment objective by investing primarily in a portfolio of high yield corporate bonds of varying maturities and other fixed income instruments of predominantly corporate issuers, including first- and second-lien secured loans.
  • An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program.

KBRA Assigns Preliminary Ratings to Sunnova Sol Issuer, LLC, Series 2020-1

Retrieved on: 
Friday, January 31, 2020
Banking, Professional services, Finance, Kroll Bond Rating Agency, Bond, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two note classes issued by Sunnova Sol Issuer, LLC, Series 2020-1.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two note classes issued by Sunnova Sol Issuer, LLC, Series 2020-1.
  • The total aggregate discounted solar asset balance (ADSAB), consisting of the discounted payments of the leases, PPAs, EZ Pay PPAs and SREC contract is approximately $360.8 million.
  • The portfolio consists of 33.3% leases, 14.8% PPAs, 48.3% EZ Pay PPA by ADSAB, and approximately 33.4% leases, 15.6% PPAs, 51.0% EZ Pay PPA by count.
  • The weighted average original tenor of the lease agreements is 300 months and the weighted average remaining term of the agreements is 281 months.

SMBX And Degrees Plato Announce New Small Business Bond Offering

Retrieved on: 
Friday, January 31, 2020
Finance, Food, Beverage, Retail, Professional services, Small business, Financial markets, CDC software, Computer-based Education Research Laboratory, Plato, Texas Instruments TI-99/4A, Bond, Capital market, Financial capital, SMBX, Degrees Plato

SMBX , a marketplace for buying and selling small-business bonds, and Degrees Plato, an Oakland owned-and-operated taproom, bottleshop and Mexican kitchen, announced the launch of Degrees Plato s (PLTO) Small Business Bond offering.

Key Points: 
  • SMBX , a marketplace for buying and selling small-business bonds, and Degrees Plato, an Oakland owned-and-operated taproom, bottleshop and Mexican kitchen, announced the launch of Degrees Plato s (PLTO) Small Business Bond offering.
  • The offering enables the community to invest in the business directly with as little as $10, providing the business a faster, local pathway to capital.
  • Degrees Plato will use the funds to build an outdoor space, which is set to launch this spring.
  • SMBX is the first small business capital marketplace for issuing and buying small business bonds.

Panhandle To Begin Negotiations With 2010-2 Bondholders

Retrieved on: 
Thursday, January 30, 2020
Bond, Solicitation, Indenture, Law, Articles

CANYON, Texas, Jan. 30, 2020 /PRNewswire/ --Panhandle Plains Higher Education Authority, Inc. (the "Authority") will enter into negotiations with one or more institutional holders of the Bonds soliciting their consent to an early redemption of the Bonds.

Key Points: 
  • CANYON, Texas, Jan. 30, 2020 /PRNewswire/ --Panhandle Plains Higher Education Authority, Inc. (the "Authority") will enter into negotiations with one or more institutional holders of the Bonds soliciting their consent to an early redemption of the Bonds.
  • Following such negotiations, the Authority may launch a formal solicitation for the majority consent necessary to approve the required amendment to the indenture securing the Bonds.
  • Any formal solicitation will only be made in accordance with the terms and conditions of a Consent Solicitation Statement which will be forwarded to the Bondholders.
  • There can be no assurance that the Authority would reach an understanding with the institutional holders(s) or that the Bonds ultimately would be retired.